Fallen celebrity investment manager Al Parish received just more than 24 years and four months for fraud today. He was taken into custody immediately.
How did a 51-year-old man respond to knowing he'll be in jail until he's 75? Charleston Regional Business Journal says:
Speaking to the court before the sentence was handed down, Parish said he would never be able to make restitution to all of the people who invested in his funds no matter how long he lived.
“I know some may never believe this, but I never intended to do this,” Parish said. “My purpose in investing these funds was to receive a return for my clients.”
Parish said he should have taken more care and put more thought into the investments he was making, acknowledging that diamond-encrusted pens, gnome figurines and cartoon art might not have been the best choices for investing his clients’ money. Parish said he would continue to work with the receiver to recover as much money as possible.
487 investors filed claims for $80 million. Prosecutors had requested that he spend 365 months (just more than 30 years) in prison.
Read more about Al Parish on our topic page.